DigiPlus announces P6-billion share buyback program

DigiPlus Interactive Corp. announced a P6-billion share buyback program, valid for 12 months and renewable, to be funded by internally generated cash flows.

The program underscores the company's strong balance sheet and commitment to maximizing long-term shareholder value.

Chairman Eusebio Tanco stated the buyback signifies strong confidence in DigiPlus' long-term growth and fundamentals, aiming to deliver sustainable shareholder returns while pursuing expansion.

The announcement led to a 14.58% rebound in DigiPlus shares on Monday, closing at P33.80.

This is an improvement from Friday, when the company's shares plummeted by 23.87% to P29.50.

The stock market decline occurred after Senator Sherwin Gatchalian proposed stricter regulations for the online gaming sector, including a P10,000 minimum top-up requirement and restrictions on e-wallet payments for online gambling.